June 15, 2022
The Financial Conduct Authority (FCA) has confirmed new rules to make authorised firms more responsible for their Appointed Representatives (ARs) and Introducer Appointed Representatives (IARs). The new rules are effective from 8th December 2022 and are intended to help prevent consumers being mis-sold or mis-led by ARs, and to prevent misconduct by ARs undermining the fair and safe operation of markets.
Set out in the Policy Statement PS 22/11: Improvements to the Appointed Representatives regime, the new rules are likely to prove a significant challenge for some Principal firms, and are intended to protect consumers and address harms across all the sectors where Principals and ARs operate. Also, this is an increasing area of focus for the FCA.
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